GST should have been capped at 18%: Chidambaram

New Zealand clothing retailer Last Season director Jeremy Mould says his company's revenue could have grown more than

Chidambaram said "this is a very, very imperfect GST".

He said the Congress will campaign for a "true GST" and hold meetings to emphasise that the party was the original proponent of the indirect taxes reforms measure.

"The GST was envisaged as a single rate of tax on all goods and services that will replace practically all indirect taxes".

"World over by definition the GST is a single tax. if you have ten rates, then do not call it GST".

The university is the first in line to include the tax in the curriculum as Rajesh Jha, professor at Rajdhani College and an academic council member, pointed out that the executive is most likely to sanction the inclusion.

Former Finance Minister and senior Congress leader P Chidambaram. It is a mockery of GST. "We demand the government to review the current setup of GST, and include them in order to fulfill the agenda of one nation, one tax". Addressing the press in the past month, Chidambaram had said, "The legislation which they (government) is attempting to implement across the nation is neither the real GST which was prepared by Congress, nor the ideal GST formulated by experts".

Due to increased service tax under GST regime for financial services, banking services like withdrawals from ATMs, requests for cheque books, cash deposits and issuance of demand drafts would cost more than it did earlier. "World over, GST is a single tax", he said. "GSTN should have undergone a dry run before implementation", Chidambaram told reporters here.

"We had suggested changes in the Constitutional Amendment Bill...some changes were accepted, some were not....although we had some reservations, we agreed to pass the Bill...after that when the CGST and IGST bills were discussed in Parliament, I do not recall any discussion between the government and the Congress..." he said.

"The Central Government should have engaged the leaders of the political parties to forge a consensus on three rates".

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